Short Interest in BorgWarner Inc. (NYSE:BWA) Declines By 20.0%
BorgWarner Inc. (NYSE:BWA) was the target of a significant drop in short interest in the month of August. As of August 31st, there was short interest totalling 5,020,700 shares, a drop of 20.0% from the July 31st total of 6,272,800 shares. Currently, 2.5% of the company’s stock are sold short. Based on an average daily trading volume, of 1,770,000 shares, the days-to-cover ratio is currently 2.8 days.
BWA has been the subject of several recent research reports. Citigroup lowered their price objective on BorgWarner from $45.00 to $42.00 and set a “neutral” rating for the company in a research report on Tuesday, July 30th. Cowen set a $47.00 price target on BorgWarner and gave the stock a “buy” rating in a research report on Friday, July 19th. Nomura initiated coverage on BorgWarner in a research report on Tuesday, August 27th. They issued a “buy” rating and a $41.00 price target for the company. ValuEngine lowered BorgWarner from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 10th. Finally, Morgan Stanley set a $47.00 price target on BorgWarner and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $46.50.
Shares of NYSE BWA traded up $0.76 during trading on Friday, hitting $40.00. The company had a trading volume of 2,003,542 shares, compared to its average volume of 1,705,695. The company has a market cap of $8.10 billion, a P/E ratio of 8.93, a PEG ratio of 1.28 and a beta of 1.87. BorgWarner has a 52 week low of $30.71 and a 52 week high of $46.97. The business’s 50-day moving average is $34.44 and its 200 day moving average is $38.54. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.31 and a current ratio of 1.66.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date is Friday, August 30th. BorgWarner’s dividend payout ratio is presently 15.18%.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Mason Street Advisors LLC grew its holdings in shares of BorgWarner by 0.9% during the 1st quarter. Mason Street Advisors LLC now owns 29,631 shares of the auto parts company’s stock valued at $1,138,000 after purchasing an additional 267 shares during the last quarter. State Treasurer State of Michigan grew its holdings in BorgWarner by 0.5% during the 1st quarter. State Treasurer State of Michigan now owns 59,896 shares of the auto parts company’s stock worth $2,301,000 after acquiring an additional 300 shares during the last quarter. SeaCrest Wealth Management LLC grew its holdings in BorgWarner by 3.6% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 8,661 shares of the auto parts company’s stock worth $364,000 after acquiring an additional 302 shares during the last quarter. Schafer Cullen Capital Management Inc grew its holdings in BorgWarner by 0.4% during the 2nd quarter. Schafer Cullen Capital Management Inc now owns 107,671 shares of the auto parts company’s stock worth $4,304,000 after acquiring an additional 402 shares during the last quarter. Finally, Empirical Finance LLC grew its holdings in BorgWarner by 0.8% during the 2nd quarter. Empirical Finance LLC now owns 59,682 shares of the auto parts company’s stock worth $2,505,000 after acquiring an additional 502 shares during the last quarter. Institutional investors own 91.49% of the company’s stock.
BorgWarner Inc provides solutions for combustion, hybrid, and electric vehicles worldwide. It operates in two segments, Engine and Drivetrain. The Engine segment develops and manufactures turbochargers; eBoosters; and timing systems products, including timing chains, variable cam timing crankshaft and camshaft sprockets, tensioners, guides and snubbers, front-wheel drive transmission chains, four-wheel drive chains, and hybrid power transmission chains.
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